Another Republican Debate And What Else To Expect Out Of DC Today

Tyler Durden's picture

Today at 8 pm is the latest installment in the Republican presidential debate drama this time, appropriately enough, straight out of Sin City. Here is what else to look forward to from DC.

9:30 am -- CFTC rulemaking meeting on position limits.  The CFTC will consider a final rule on position limits, as well as a final rule for clearing organizations and a change in the effective date for swaps regulation.

10:00 am -- Tax reform.  The Senate Finance Committee will hold another hearing on the subject, this time focused on the effect of reform on charitable giving, which many have cited as a key concern in eliminating tax deductions in favor of lower statutory rates.  The super committee is thought to be considering including “instructions” for tax reform to the committees with jurisdiction (i.e., the Senate Finance and House Ways and Means Committees) but the deadline might not be until 2013, and it is unclear that there would be any penalty for failing to achieve the goal, leaving whatever process the super committee sets up essentially non-binding. 

10:00 am -- Treasury Sec. Geithner testifies on small business incentives. In the Senate Small Business Committee.

11:00 am -- President Obama speaks in North Carolina on jobs.  The President yesterday challenged Congress to consider portions of his jobs package separately,  now that the entire package has been voted down in the Senate. He has pointed to the $35bn in fiscal aid for state and local governments as the first item that should be considered; Sen. Majority Leader Reid (D-NV) said yesterday he would attempt to bring up that proposal as standalone legislation later this week. The bill would be paid for with a smaller version of the millionaire surtax the Senate considered last week (a 0.5% tax on incomes over $1mn, rather than the 5.6% considered last week).  The likelihood of passing is fairly low, however, and we don’t assume this proposal in our forecast for 2012.   The President will speak again at 5:00 pm in Virginia on the same thing.

2:30 pm – Govt and industry testifies on pipeline safety.  The focus will be the explosion in California, and pending pipeline safety legislation. Some discussion of the proposed Keystone Xl pipeline also seems likely to come up.

8:00 pm -- Republican presidential debate.  This one will be hosted by CNN, in Las Vegas. Current polling puts former Mass. Gov. Romney roughly tied with businessman Herman Cain at around 23-24% apiece, with Texas Gov. Rick Perry at 13% and the rest of the pack in single digits.  One interesting question is whether Romney’s competitors begin to adopt his more aggressive stance on economic relations with China—he has said he would cite China for currency manipulation and would use countervailing duties to offset what he believes is China’s unfair currency policy.  A broader embrace of such a position could put pressure on the House to consider currency legislation, not to mention the Obama Administration, which last week delayed the publication of its semi-annual report on foreign exchange past its October 15 due date (the report is often delayed).

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
overmedicatedundersexed's picture

might as well start"  take a drink" for every question to Ron Paul..

liquor will be safe tonight.

FEDbuster's picture

Obama won't speak today, his teleprompter was stolen alnog with his podium and presidential seals.

Taffy Lewis's picture

Wow, this will depress Zero even more; to him it's like his dog getting run over and killed.


Blank Reg's picture

What about the grinning sycophants who always stand behind him?

Abiotic Oil's picture

"Congressman Paul, for your first and last question of the night, you recently unveiled your budget which details in realistic attainable terms, how you will make $1 trillion in cuts your first year and balance the budget by your third year in office.  You use the novel approach of cutting spending rather than raising taxes, selling pizzas or relying on your hair style.  My only question of the night to you sir is, do you prefer a road bike or mountain bike when you exercise?"

dick cheneys ghost's picture

We'll see just how conservative those other candidates are when confronted with the Dr's plan to shrink Govt..............


should be fun................

Dr. Richard Head's picture

Well Rush Limbaugh likes it -

So I don't know what to make of that endorsement. Should be fun tonight or the same old bullshit of giving Ron two questions and letting Cain, Romney, and Perry play grabass all night.

end da fed's picture

that had to have killed Rush, although he says that Paul "stole" the idea from him

Abiotic Oil's picture

Rush was a little kid when Ron was talking about this stuff.  Come on Rush, take a few more little pills and go back to sleep. 

Don Birnam's picture

Be certain that one -- perhaps several -- of the GOP panelists will decry Rep. Paul's outline to eliminate two cabinet-level offices. The ( wholly necessary - Ed. ) eradication of the Dept. of Education, in particular, will draw the compassionate ire of ( my supposition is ) Romney and Santorum. 

Indeed, on this point, I am surprised that our lachrymose House Speaker has not been rendered insensible by the thought of all those millions of chillern' who could, potentially, have no more federal master to mold ( perhaps mould is the appropriate term ) their malleable minds. 

Abolish the Depts. of Education, Energy, and throw in Labor as well. EPA, FEMA -- I am certain there are numerous other alphabet agencies which this nation can also do without...The U.S. Government has no business operating in these particular theaters of public administration; such belong to the states.

Johnny Lawrence's picture

Look forward to Ron Paul being asked zero questions.  He needs to interupt tonight and force his way into the conversations.

Temporalist's picture
Ron Paul this AM on Squawk Box


Ron Paul Media Blackout Confirmed

"Ron Paul loyalists have been vindicated. After months of observations that the mainstream media was ignoring the libertarian standard-bearer, a new study by the Pew Research Center's Project for Excellence in Journalism shows just that: the Texas Congressman, who has consistently polled in the high single digits -- Real Clear Politics's aggregate poll currently has him at 8 percent -- has received the least overall coverage of any candidate. From May 2 to October 9, Paul appeared as the "primary newsmaker in only 2% of all election stories.""

Temporalist's picture

Come on Bart Chilton!  Maybe the investigation will finally have some results?

JohnG's picture

CFTC got served a nice big cup of "shut the fuck up" starting about 7:30......

Flakmeister's picture

Simplest solution....

Replace Witholding with a carbon tax that is applied to imports as well.... too simple and elegant for the asshats in D.C or on the hustings to comprehend.


Flakmeister's picture

Ahh... the faceless chickenshit junksters strike again...

What's the matter, too fucking stupid to understand what I wrote or afraid to get a new one ripped and your fucking ignorance put on parade for all to see if you actually reveal yourself???

Aubrey Sportcocke's picture

If Dr. Paul isn't given appropriate or fair time to discuss his policies, then I suggest BOYCOTTING the advertisers and the network.  "Might as well hit 'em in the pocketbook".  Lets see if the advertisers get bailed out ..hmm

infotechsailor's picture

not that its a bad idea, but i think someone already stole it. people are getting their news and issues from alternative media and talk radio these days, so the boycott is already in place. dying MSM getting less relevant. To your other point, dont ever underestimate the ability of the govt to bailout asshats

Abiotic Oil's picture

We did a massive advertiser boycott in 07-08.  Really hit Faux hard when they wouldn't let Ron participate in their debate.  Didn't do shit.

JPM Hater001's picture

9-9-9 got me wasted last debate.  I will need to scale back so I am using a shot for every word Ron Paul gets to say.

I hope I die of alchol poisining but I think I may have to add in Bachmanns words just to make it a party.

Aubrey Sportcocke's picture

 By continuing to boycott the advertisers, I mean really to boycott, don't use credit, debit cards, use cash , pull the wad out the bankster account, Cut back or eliminate the cell phone contracts , pay-pal accts , big box stores, eat local ....

electronpaul's picture

If RP's plan hears the light of day, we will really get to see what the populace think of big government. I would be shocked if they even mentioned it, let alone debated it. Too dangerous for TPTB